Small Time Operator, Table of Contents:

  • Foreword: Be Your Own Boss

  • SECTION ONE: GETTING STARTED

  • A Small Time Operator: A True Story

  • Kinds of Business

  • Can You Do It?

  • Your Idea, and the Market

  • Business Location

  • Zoning

  • Leases

  • Rural Businesses

  • Financing

  • How Much Do You Need?

  • Start Up Capital

  • Self Financing

  • Debt Financing

  • Bank Loans

  • Other Loan Sources

  • Small Business Administration (SBA)

  • Loans to Yourself

  • Equity Financing (Investors)

  • Limited Partnerships

  • Limited Liability Companies (LLCs)

  • Venture Capital

  • Legal Structure

  • Different Legal Structures

  • Sole Proprietorship

  • Licenses and Permits

  • General Information

  • DBA / Fictitious Name Statement

  • Local Business Licenses

  • Other Local Permits

  • State Licenses

  • Sales Tax and Seller's (Resale) Permits

  • Use Tax

  • Other State Regulations

  • Federal Identification Numbers

  • Federal Licenses

  • Federal Trade Commission Rules

  • Insurance

  • Choosing a Business Name

  • The Business Plan

  • SECTION TWO: BOOKKEEPING

  • Warming Up to an Unpopular Subject

  • Why Keep a Set of Books

  • IRS Requirements

  • Setting Up Your Books

  • Hand Posted Ledgers

  • Computer Software for Bookkeeping

  • Business Bank Accounts

  • Bookkeeping Simplified

  • Introduction to Single-Entry Bookkeeping

  • Cash Accounting Vs. Accrual

  • Recording Income

  • The Income Ledger

  • Sales Returns

  • Installment Sales

  • Return (Bounced) Checks

  • Credit Sales

  • Direct Credit

  • Finance Charges

  • Credit Ledger

  • Accounts Receivable

  • Your Credit Customers

  • Uncollectible Accounts

  • Credit Cards

  • Debit (Cash) Cards

  • Expenditures

  • The Expenditure Ledger

  • Checkbook and Ledger Combined

  • Posting The Ledger

  • Uncashed Checks

  • Accounts Payable

  • Petty Cash

  • Calculators and Adding Machines

  • Financial Management

  • Profit and Loss Analysis

  • Cash Flow Projections

  • Inventory Control

  • SECTION THREE: GROWING UP

  • Business Growth

  • Hiring Help

  • Employees Vs. Independent Contractors

  • Steps to Becoming an Employer

  • Federal and State Requirements

  • Federal Procedures and Taxes

  • Family Employees

  • Payroll Ledgers

  • Partnerships

  • General Vs. Limited Partnerships

  • Partnership Agreements

  • You and Your Partners

  • Partnership Bookkeeping

  • You, Incorporated

  • A Corporation Primer

  • Limited Liability

  • Change of Ownership

  • Owner-Employees

  • Retained Earnings

  • S Corporations

  • Close Corporations

  • Steps to Incorporating

  • Articles of Incorporation

  • Incorporating an Existing Business

  • Limited Liability Company (LLC)

  • SECTION FOUR: TAXES

  • Deep in the Heart of Taxes

  • Accounting Period: Calendar Vs. Fiscal Year

  • Who Must File

  • Which Returns to File

  • Filing Dates

  • Tax Calendar

  • Business Expenses

  • Basic IRS Rules

  • Start-Up Expenses

  • Prepaid Expenses

  • 100 Typical Expenses

  • Vehicle Expenses

  • Interest

  • Business Gifts

  • Entertainment

  • Dues

  • Meals

  • Freight

  • Bad Debts

  • Casualty and Theft Losses

  • Education Expenses

  • Insurance

  • Employee Health Insurance

  • Moving Expenses

  • Repairs

  • Travel and Business Trips

  • Inventory and Cost-of-Goods-Sold

  • Assets: Machinery, Equipment, Furniture, Etc.

  • Depreciation

  • Donations

  • Non-Deductible Expenses

  • Self-Employment Tax

  • Retirement Deductions

  • IRA (Individual Retirement Account)

  • SEP (Simplified Employee Pension Plan)

  • SIMPLE Plan

  • Keogh (H.R. 10À"ÀSelf Employed Retirement Plan)

  • Other Small Business Tax Issues

  • Estimated Tax Payments

  • Barter

  • Operating Losses (NOL)

  • Tax Credits

  • Tax Software

  • Farmers, and Fishermen/Fisherwomen

  • The Internal Revenue Service

  • The IRS and You

  • Business Losses

  • Audits

  • Penalties

  • Failure to File

  • Amending Old Returns

  • Federal Information Returns

  • Excise Taxes

  • State and Local Taxes

  • State Income Taxes

  • Gross Receipts Taxes

  • Other State Taxes

  • County, City and Local Taxes

  • Business Property Taxes

  • SECTION FIVE: YOUR BUSINESS

  • How to Balance a Bank Account

  • Balance Sheets

  • Professional Help

  • Accountants

  • Attorneys

  • Bookkeepers

  • Husband and Wife Businesses

  • Partnership, Sole Proprietor, or Corporation?

  • Income and Payroll Taxes

  • Spouse as Employee, and Fringe Benefits

  • Two Separate Businesses

  • crafts-Based Businesses

  • Types of Business (and Possible Problems)

  • Post Office Boxes

  • Deliveries

  • Zoning

  • Housing Restrictions

  • Telephones: crafts Vs. Business

  • craftswork Laws

  • Insurance

  • The crafts Office Deduction

  • Import and Export Businesses

  • Buying a Business

  • Independently Owned Businesses

  • Franchises

  • Business Opportunities

  • Freelancers, Professionals, Consultants

  • Independent Contractor Status

  • Royalties and Advances

  • Artists, Writers and Photographers

  • Computers

  • Do You Need a Computer?

  • Hardware

  • Software

  • Insurance and Taxes

  • Legal and Management

  • Pricing

  • Contracts

  • Trademarks

  • Patents

  • Copyrights

  • Filing Your Business Records

  • How to Avoid Crooks

  • Managing Your Business

  • Marketing

  • SECTION SIX: THE INTERNET

  • Business on the Internet

  • Getting on the Internet

  • Computer, Modem, Telephone Line

  • Internet Service Provider

  • E-Mail

  • Web Sites

  • Accepting Credit Cards

  • Laws and Regulations

  • Trademarks

  • Copyrights

  • Patents

  • Tax Deductions

  • Privacy Laws

  • Insurance

  • Protect Your Business

  • Government Web Addresses

  • SECTION SEVEN: THE LEDGERS

  • Income and Expenditure Ledgers

  • Year End Summaries

  • Depreciation Worksheet and Equipment Ledger

  • Credit Ledger, Payroll Ledger, Partners' Capital

  • Petty Cash Ledger, Inventory Record

  • INDEX

 

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